The past few decades have seen an accelerated integration of the global economy, spearheaded by a logistics revolution centered on a liberalized maritime shipping sector, in-time deliveries, digital management of procurements and other innovations.
An enabler of this revolution, Inatech is a global pioneer in intelligent cloud-based energy trading risk management and fuel management solutions. The company leverages the expertise and knowledge of the world’s largest commodity traders, building a strong foundation for innovation and problem-solving. Inatech operates in a vertically integrated business covering the production, refining, marketing, trading, and retail of energy products. The company serves value chains across the energy and fuel market with scalable, decision-support systems that help clients stay competitive and maximize investments.
Over the last 20 years, Inatech has established a strong legacy in the energy commodity segment with an expansive global footprint, research-driven innovation, and strong customer support.
While transport has undergone massive change over the past two centuries, ships remain at the forefront of global logistics and freight movement. It remains the cheapest form of transport and is highly efficient in delivering large quantities of cargo across the globe. Nevertheless, the sector is changing rapidly. The ever-existing pressure to optimize operations aside, a growing impetus has emerged on the decarbonization of marine fuels and on the adoption of alternative sources of energy. This is likely to make fuel procurement increasingly complex, as fleet management will need to take into account the possibly divergent prices, sourcing and other factors.
The added complexity, of course, can be managed with the use of innovative solutions. An excellent example is the use of cloud-based trading in facilitating ship fuel management, a revolutionary step for the global shipping sector. Inatech was up to the challenge, but needed an up-to-scratch platform that allowed both ease-of-use and successful integration of information from the side of suppliers and clients to facilitate would-be purchases.
Shiptech was designed to be a real-time, complete cloud-based marine fuels procurement and management software. It is suitable for all types of operators—dry bulk, cargo, tankers and containers and supports various alternative fuels such as methanol, LNG, hydrogen, ammonia, and more. It was built on a modern architecture, with a slick design, and equipped with powerful analytics. Shiptech was designed to cover the entire planning, negotiation and post-deal management cycle associated with fuel purchases. Inputs included information from the side of clients (such as ship location) and from the side of suppliers, thus allowing contracts to be signed at a quick pace for purchases covering en-route ships at a short notice.
In terms of actual work, 24 Software was the lead behind the design of the backend fundamentals of the software, with eJump being in charge of designing and implementing the front end UI. By providing a seamless user experience and helping clients navigate the complexities of the fuel purchasing process, the website enables the simplification of key naval operations. Working with an external company for a single, large project has been a growth experience for eJump. The complexity and scale was also notable, being the largest project undertaken by eJump at the time. It included over 160.000 lines of code that ultimately allowed the platform to function.
One key feature of Shiptech is the pre-deal analysis which it offers via data integration. By collecting information on vessel positions and routes, port alerts, on-board fuel consumption and on-shore fuel availability, this function of the platform allows the establishment of the informational background needed to place any orders. Price benchmarks and supplier histories are also useful in making order placement informed and transparent.
The post-deal management tool in Shiptech covers aspects ranging from invoicing to quality assurance and feedback, claims management and other aspects that might arise after the conclusion of any purchases.
The planning and negotiation functions of Shiptech allows the use of the available information to strike the actual deal for fuel purchases. Contracts can be registered and evaluated, with the effective use of vessel scheduling and supplier information. Clients are then recommended the best suppliers, offered a quotation and helped in setting up a contract.
Shiptech is now fully operational and has greatly simplified Inatech’s fuel sales. Companies can buy the high-quality marine fuel at the lowest available prices, including LNG, methanol, hydrogen, and ammonia. Orders can be placed on short notice, even for ships which are en-route. Clients can use the tool to negotiate purchases across the globe, while limiting the need to deal with local bureaucracies. Furthermore, Shiptech also helps by offering insights into the procurement process by the provision of information with regards to origin of supplies, distribution locations, contract and sales frameworks and price comparisons. The Shiptech platform eliminates the need for manually coordinating data across multiple systems, legal jurisdictions and departments, and simplifies the life of naval operators.
Analytics and data integration tools enable Shiptech to reconcile and integrate complex data from the side of both clients and suppliers
Real-time information management and cloud-based features facilitate the negotiation of purchasing agreements for shipping fuel
Additional support tools facilitate the full-cycle management of fuel purchases with ease-of-use on the side of the clients
“The project we worked with eJump on was not only big but also revolutionary. It created a whole new way of purchasing shipping fuel, for fleets from around the world. We needed intuitive, easy-to-use UI and eJump provided it for us.”
24 Software for Shiptech
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